site.btaBulgaria Incurs Foreign Trade Deficit of EUR 632.4 Mln in September

Bulgaria's balance on goods recorded a deficit of EUR 632.4 million in September 2022, compared with a deficit of EUR 191.6 million in September 2021, the Bulgarian National Bank reported on Friday. In January-September 2022 the balance on goods was negative amounting to EUR 2,811.6 million (3.6% of GDP), compared with a deficit of EUR 1,568.1 million (2.2% of GDP) in January-September 2021.

Exports of goods amounted to EUR 4,130.2 million in September 2022, increasing by EUR 1,098.9 million (36.3%) from September 2021. In January-September 2022 exports of goods totalled EUR 35,028.3 million (44.3% of GDP), growing by EUR 9,960.6 million (39.7%) year-on-year (from EUR 25,067.7 million, 35.3% of GDP). In January-September 2021 exports increased by 24.7% year-on-year.

Imports of goods amounted to EUR 4,762.6 million in September 2022, increasing by EUR 1,539.7 million (47.8%) from September 2021 (EUR 3,222.9 million). In January-September 2022 imports of goods totalled EUR 37,839.9 million (47.9% of GDP), growing by EUR 11,204.1 million (42.1%) from January-September 2021 (EUR 26,635.8 million, 37.5% of GDP). In January-September 2021 imports increased by 26.1% year-on-year.

Services recorded a positive balance of EUR 429.9 million in September 2022, compared with a surplus of EUR 340.3 million in September 2021. In January-September 2022 services recorded a surplus of EUR 4,021 million (5.1% of GDP), compared with a positive balance of EUR 3,155.8 million (4.4% of GDP) in the same period of 2021.

The current and capital account recorded a deficit of EUR 529.6 million in September 2022, compared with a deficit of EUR 9 million in September 2021. In January-September 2022 the current and capital account was positive amounting to EUR 284.7 million (0.4% of GDP), compared with a surplus of EUR 1,068.4 million (1.5% of GDP) in January-September 2021.

The current account was negative amounting to EUR 457.9 million in September 2022, compared with a negative balance of EUR 31.5 million in September 2021. In January-September 2022 the current account was positive and amounted to EUR 770.2 million (1% of GDP), compared with a surplus of EUR 503.6 million (0.7% of GDP) in January-September 2021.

The capital account recorded a deficit of EUR 71.7 million, compared with a positive balance of EUR 22.6 million in September 2021. In January-September 2022 the capital account recorded a negative balance of EUR 485.5 million (0.6% of GDP), compared with a positive balance of EUR 564.9 million (0.8% of GDP) in January-September 2021.

The financial account recorded a positive balance of EUR 73.2 million, compared with a positive balance of EUR 35.7 million in September 2021. In January-September 2022 the financial account recorded a net inflow of EUR 2,812.5 million (3.6% of GDP), compared with an inflow of EUR 3,930.4 million (5.5% of GDP) in January-September 2021.